The project has now been officially taken over by two of the leading names in the hotel and property industries: Park Plaza Hotels and the Tulip Group.
The first step the new owners will undertake is to clear any outstanding debt from the previous Waterfront project. The newly named Park Plaza Waterfront will be a 52 Floor building rising to a height of 183 Meters and will be located at Bali Hai in downtown Pattaya. The project will feature a 100 room hotel and 315 residential condominium units.
The building will offer stunning facilities and amazing views of the ocean and surrounding islands. Park Plaza Hotels will provide full management upon completion and opening of the project. Chairman of Park Plaza Hotels Mr. Eli Papouchado says this will be a new landmark development for Pattaya and an important part of the group’s property portfolio.
“We are very excited to add Pattaya to our list of great Park Plaza destinations”
Mr Papouchado has been involved in the construction, design, development, financing, acquisition and management of leading hotels in Israel and Europe, including Park Plaza Westminster Bridge London, Park Plaza Riverbank London (including Plaza on the River), Park Plaza Victoria London, Park Plaza Leeds, Park Plaza Nottingham, Park Plaza Victoria Amsterdam, the mile-stone Taba Hotel and many others.The Group currently has 25 Park Plaza hotels and art'otels in 56 countries.
Joining forces with the Park Plaza Group is the Pattaya-based Tulip Group.
Its founder Mr Kobi Elbaz is well-known both in Thailand and internationally and is currently developing the Centara Avenue Residence and Suites.He is also a partner in numerous other projects including– The Cliff– Amari Residence Pattaya-Novana Residence-Nova Ocean View-Centara Grand Pattaya-Centara Boutique Collection and Centra Bangkok.
“Our partnership with Park Plaza will renew investor confidence in this project,” Mr Elbaz said. “Pattaya will gain another leading hotel name and further confirmation that this destination is evolving upwards. Our combined commitment to clear the Waterfront’s old debts is the first step in this new partnership.”
The new Park Plaza Waterfront project will launch fully in six weeks and will no doubt attract a wealth of buyers both locally and internationally looking for an exciting world class property.
# # #
Alan Bolton Property Consultants are the biggest real estate agents in Pattaya, Thailand providing real estate advice, information, and services (Property Sales of both Houses and Condos, Short or Long Term Rentals. Sole Agent Specialist for new Developments